Bank of America Market Strategist Says ‘Summer Rally Is Over’ as Crypto and Stocks Slide Ahead of Fed Rate Hike This Week

Digital currency markets, precious metals, and stocks dropped another leg down on Monday following the drop markets saw last Tuesday. Last week’s fall was one of the worst weeks in more than three months as market strategists believe a sizable Fed rate hike is coming this week. Bank of America’s analysts led by Savita Subramanian believes the U.S. Federal Reserve “has more work to do,” and an aggressive central bank may be “anathema for stocks that have benefited from low rates and disinflation.” Crypto, Precious Metals, Equities Show Volatility Ahead…

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Gold and Silver Markets Shudder, Analysts Say Firm Dollar and Rate Hikes May Drag Precious Metal Markets Lower

Precious metal markets have shuddered during the last few weeks, as gold’s price per ounce nears a six-week low hovering just under $1,700 per unit. Silver crashed through the $18 range slipping to $17.80 per ounce. While both gold and silver dipped between 0.85% to 0.89% against the U.S. dollar in 24 hours, platinum dropped 2.82% and palladium shed 4.18% against the USD during the last day. Despite Scorching Global Inflation, Gold Hasn’t Been a Safe Haven in 2022 While the entire world is suffering from red-hot inflation, many would…

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3 reasons why the Bitcoin price bottom is not in

Bitcoin (BTC) recovered modestly on Aug. 20 but remained on course to log its worst weekly performance in the last two months. Bitcoin hash ribbons flash bottom signal On the daily chart, BTC’s price climbed 2.58% to $21,372 per token but was still down by nearly 14.5% week-to-date, its worst weekly returns since mid August. Nonetheless, some on-chain indicators suggest that Bitcoin’s correction phase could be coming to an end. That includes Hash Ribbons, a metric that tracks Bitcoin’s hash rate to determine whether miners are in accumulation or capitulation…

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